Washington Trust Bank in the US went live with Empower, a loan origination system (LOS) developed by software developer Black Knight.

The lender is utilising Empower Now! implementation model specifically designed for mid-tier financial institutions.

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The loan origination system model provides the lender with a set of capabilities from Empower.

It will enable Washington Trust Bank to electronically collect, process and close loans across various business spectrums.

Additionally, Empower allows Web APIs easy access to data and documents to improve digital experience of the customers.

Washington Trust Bank consumer lending vice-president Shane Patnoi said: “Washington Trust Bank is now using Empower to support our organisation’s growth strategy.

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“Replacing our legacy technology with Black Knight’s system will provide advanced functionality, system scalability and flexible configuration to increase the effectiveness of our expanding lending efforts.”

Overall, the Empower Now! Model offers the same Empower functionalities but it can be implemented faster and at a lower cost.

It will also enable Washington Trust Bank to add or modify functionalities according to specific requirements and compliance needs.

Black Knight Origination Technologies president Rich Gagliano said: “With an accelerated implementation timeline and a cost structure that aligns with mid-market lenders’ needs, Washington Trust Bank will be able to quickly and cost-effectively take advantage of Empower’s ability to help the bank’s customers buy new homes and refinance existing mortgages.”

Washington Trust Bank is a full-service commercial bank in the Northwest. The lender has more than $6bn in total assets and operates 42 branches in Idaho, Oregon, and Washington.